'Doing Well While Doing Good' Revisited: A Study of Socially-Responsible Firm's Short-term versus Long-term Performance.
This ar ti cle re ex am ines the “do ing well while do ing good” de bate within the fi nan cial man age ment lit era ture, us ing com pari sons among so cially re spon si ble mu tual funds (SRMF), the NYSE Com pos ite In dex, and a port fo lio made up of firms most val ued by SRMF man ag ers (MostSRF). The per form ance of MostSRF did no bet ter or no worse than the over all mar ket or SRMF in three to five year com pari sons. How ever, re sults from the ten- year performance comparison refute earlier stud ies and indicate that the market prices so cial re spon si bil ity char ac ter is tics in the long run. Given MostSRF out per formed the other two in di ces in this time line, a new para digm for un der stand ing the im pact of SRI is revealed.
|Main Author:||Shank, Todd.|
|Other Authors:||Hill, Ron.|